Romania’s Government could impose a new tax for oil producing companies, in addition to the oil royalties they have to pay for the production of oil and gas extracted, according to sources quoted by energyreport.ro. The new tax will surcharge these companies’ profit from upstream, exploration and production activities.

According to the sources, in addition to the specific royalties in oil and gas sector, the tax on special construction and the 16% income tax applied to all companies in Romania, oil producing companies would also pay an extra tax applied on profits earned from production of oil and gas.

Irina Popescu, irina.popescu@romania-insider.com